Shareholders Foundation, Inc.

Platinum Underwriters Holdings, Ltd. (NYSE:PTP) Investor Investigation of Takeover by RenaissanceRe Holdings Ltd

An investigation on behalf of investors of Platinum Underwriters Holdings, Ltd. (NYSE:PTP) in connection with the proposed takeover was announced and NYSE:PTP stockholders should contact the Shareholders Foundation.

 

San Diego, CA -- (SBWIRE) -- 12/02/2014 -- An investigation on behalf of investors, who currently hold shares of Platinum Underwriters Holdings, Ltd. (NYSE:PTP), was announced concerning whether the takeover of Platinum Underwriters Holdings, Ltd. by RenaissanceRe Holdings Ltd for a value of approximate $76 per share is unfair to NYSE:PTP stockholders.

Investors who purchased shares of Platinum Underwriters Holdings, Ltd. (NYSE:PTP) and currently hold any of those NYSE:PTP shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of Platinum Underwriters Holdings, Ltd. breached their fiduciary duties owed to NYSE:PTP investors in connection with the proposed acquisition.

On November 24, 2014, Platinum Underwriters Holdings, Ltd. (NYSE:PTP) announced that it has entered into a merger agreement with RenaissanceRe Holdings Ltd. (NYSE: RNR) under which RenaissanceRe Holdings Ltd will acquire PlatinumUnderwriters Holdings Ltd. Under the terms of the proposed transaction, the common shareholders of Platinum Underwriters Holdings Ltd will receive cash and RenaissanceRe Holdings Ltd common shares with an approximate value of $76 per share, or approximately $1.9 billion in the aggregate.

However, the investigation concerns whether the offer is unfair to NYSE:PTP stockholders. More specifically, the investigation concerns whether the Platinum Underwriters Holdings Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Shares of Platinum Underwriters Holdings, Ltd. (NYSE:PTP) grew from $28.98 per share in April 2011 to as high as $66.06 per share in July 2014.

On Nov. 28, 2014, NYSE:PTP shares closed at $74.17 per share

Those who are current investors in Platinum Underwriters Holdings, Ltd. (NYSE:PTP) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com